Leading insurer opens branch in HK

Leading global credit insurer Atradius Friday announced the opening of its new branch in Hong Kong, cementing its foothold in Asia.

It said the Hong Kong office, located in Central Plaza on Harbor Road, will serve as the company's regional headquarters. Atradius currently has offices in Tokyo, Shanghai, Mumbai and Singapore. The office will provide the same high level of underwriting and customer service skills as any of the other more than 90 Atradius offices world-wide.

However, as a leading credit insurer with total revenues of around 1.3 billion euro and a 24 percent share of the world credit insurance market, the insurer said its enlargement will not stop there.

As part of its strategy for development in Asia, the company is currently considering other opportunities for growth in the region. Markets such as Korea, China's Taiwan, Thailand and Malaysia offer potential opportunities for future development.

Atradius CEO Peter Ingenlath sees the opening as a major milestone in Atradius' planned expansion in Asia.

He said: "Obtaining our operating license in Hong Kong enables us to fully maximize the value of our offering in Asia to our customers. Not only have we secured our Hong Kong license, but we also recently have begun a co-operation arrangement in Chinese Mainland on domestic credit insurance with China Continent Property and Casualty (CCIC)."

Source: Xinhua